newstodate.aero
Nov 21, 2018 (newstodate): 2018 has been an Annus Horribilis for Lithuania's Small Planet Airlines Group.
First, Small Planet Airlines Germany announced entering a restructuring process on September 18, Small Planet Airlines followed suit on October 8 - and Small Planet Airlines UAB, the Lithuanian carrier, finally joined desolation row on October 23, 2018.
-First, restructuring was announced in Germany and this company is still in talks with possible investors for acquisitions. This process is however in the hands of the curator and the management of this company and thus now outside our control, says Simonas Bartkus, Small Planet Airlines Head of Marketing.
-Small Planet Airlines Poland was first reduced to only one aircraft, but as no potential investor emerged it was decided to initiate a liquidation process where assets including AOC, know-how, staff and slots will be sold.
-Finally the Lithuanian carrier Small Planet Airlines UAB: a restructuring process in Lithuania was started despite this carrier's successful and profitable operational performance.
-This was a vital step for the company to protect its business from the negative impact of the financial difficulties in Small Planet Airlines Poland and Small Planet Airlines Germany. This restructuring process will however have no effect on Small Planet Airlines UAB's flights from Lithuania and foreign bases.
-On the basis of long-term agreements with the tour operators, the Lithuanian company will continue its operations as planned and without a negative impact on the passengers.
-The fleet of Small Planet Airlines UAB will consist of eight Airbus A320 aircraft, two of which will fly from Vilnius, one from Billund, two from Vietnam with a new partner Bamboo Airways, and two from Cambodia in cooperation with Small Planet Airlines Co. Ltd, a local leisure carrier operating under Small Planet Airlines brand.
-The last aircraft will be dedicated for stand-by and used for back-up to operations, says Mr Bartkus.
By the start of this year, Small Planet Airlines still planned to add six more Airbus A320 Family aircraft to its fleet, growing to a total of 28 aircraft in the Group's airlines.
First, Small Planet Airlines Germany announced entering a restructuring process on September 18, Small Planet Airlines followed suit on October 8 - and Small Planet Airlines UAB, the Lithuanian carrier, finally joined desolation row on October 23, 2018.
-First, restructuring was announced in Germany and this company is still in talks with possible investors for acquisitions. This process is however in the hands of the curator and the management of this company and thus now outside our control, says Simonas Bartkus, Small Planet Airlines Head of Marketing.
-Small Planet Airlines Poland was first reduced to only one aircraft, but as no potential investor emerged it was decided to initiate a liquidation process where assets including AOC, know-how, staff and slots will be sold.
-Finally the Lithuanian carrier Small Planet Airlines UAB: a restructuring process in Lithuania was started despite this carrier's successful and profitable operational performance.
-This was a vital step for the company to protect its business from the negative impact of the financial difficulties in Small Planet Airlines Poland and Small Planet Airlines Germany. This restructuring process will however have no effect on Small Planet Airlines UAB's flights from Lithuania and foreign bases.
-On the basis of long-term agreements with the tour operators, the Lithuanian company will continue its operations as planned and without a negative impact on the passengers.
-The fleet of Small Planet Airlines UAB will consist of eight Airbus A320 aircraft, two of which will fly from Vilnius, one from Billund, two from Vietnam with a new partner Bamboo Airways, and two from Cambodia in cooperation with Small Planet Airlines Co. Ltd, a local leisure carrier operating under Small Planet Airlines brand.
-The last aircraft will be dedicated for stand-by and used for back-up to operations, says Mr Bartkus.
By the start of this year, Small Planet Airlines still planned to add six more Airbus A320 Family aircraft to its fleet, growing to a total of 28 aircraft in the Group's airlines.